The average family pays $155,000 in Wall Street fees on their 401K. Why Index Funds are much better

[PoindexterOglethorpe]

4. I have a

financial advisor. I suppose he costs me money, but what he's done for me has been well worth it. I could not have possibly gotten the same returns on my own. He spends his working day looking at and analyzing, everything in the stock market. Every quarter we have a phone conversation, where he explains to me what's going on with my account, what he's doing with my investments.

Among the things he's done is to get me into two annuities, that I'm currently taking money from. They give me stable income, along with a small pension and my Social Security. I also take money from the investment account. I have a decent, reasonable income, close to the median income where I live. I do live frugally, and can afford what I want. I get to do various things, such as attending science fiction conventions (hooray!) or taking the train to Kansas City to visit my sister there.